Mexico issues 1.6 bln eurobond, first in 3 years

Reuters Staff

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MEXICO CITY, April 9 (Reuters) - Mexico placed a 1.6 billion euro ($2.09 billion) bond on Tuesday, securing its biggest-ever issue in the euro currency as well as a record low yield, the finance ministry said.

The 10-year bond with a coupon of 2.75 percent priced with a yield of 2.81 percent, and saw 2.8 times the demand of the amount on offer, the finance ministry said in a statement.

Mexico swapped 459 million euros of less-liquid debt with shorter maturities for the new bond, the ministry said.

Mexico last issued debt in euros in mid-2010, when it placed 850 million euros in seven-year bonds, according to IFR, a Thomson Reuters service.